Strengthening of Primary Education Sector and Growing Visual Arts Industry would be the Key Drivers for the Growth of India Art Stationery Market - 6Wresearch
Government efforts to improve gross enrollment rate along with strengthening of pre-primary and primary education infrastructure in the country would increase the demand for art stationery products in India over the next six years.
According to 6Wresearch, India Art Stationery market revenues are projected to grow at a CAGR of 13.8% during 2018-24. Government emphasis on increasing the standard of education in India would drive opening of new schools across the nation. More than 100 million children in the age group of 2-5 years are enrolled in pre-school or early childhood education center at present. Growing popularity of cultural events such as art festivals and exhibitions are also supporting the development of the art industry in India, which would increase the growth prospects for art stationery products among artists.
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According to Ravi Bhandari, Assistant Manager, 6Wresearch, "The students segment is expected to dominate the India art stationery market during 2018-24. The population between the age group 0-14 years is expected to reach more than 400 million by 2022. Crayons and pencil colors are majority of the revenue generating segments in the overall India art stationery market as these products are used by a large school going population and forms an integral part of art and craft classes. "
"Growing awareness regarding early childhood education and increasing number of both private and government schools in Northern states such as Delhi and Haryana are the key factors that would increase the demand for art stationery products in the Northern region of India,"Â Ravi further added.
According to Akash Jain, Research Analyst, 6Wresearch, "Oil colors and acrylic colors are anticipated to register highest CAGR in the overall India art stationery Market on account of expansion of visual arts industry in India. Further, growing wealth and increasing disposable income of people in the country would promote the growth of the modern and contemporary art market in India, which would further promote the use of art stationery products among artists in India in future.
"Government initiatives to increase awareness among all the sections of the society and to improve the quality of education in schools and universities would result in the growth of the education sector in India, especially at the grass root level," Akash concluded.
Some of the major players in India Art Stationery market include- Kokuyo Camlin, Doms, Faber Castell, Navneet and Steadtler.
"India Art Stationery Market (2018-2024)" provides in-depth analysis with 59 figures and 3 tables covered in more than 100 pages. The report estimates and forecast the overall India Art Stationery market by types, end user and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
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